Can bank Guarantee be refundnable?

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Can bank Guarantee be refundnable?

2007-03-14 14:17:11 · 2 answers · asked by lee teng s 1 in Business & Finance ➔ Credit

2 answers

Not from the Bank.

If you Guaranteed some-one else's payments, and they defaulted (failed to pay the bank when they should have), and the Bank made you pay instead, that (as far as the Bank is concerned) is the end of the matter.

If you want your Money back, you have to get it from the person who defaulted.

2007-03-14 21:15:58 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋

What does refundnable mean?

2007-03-14 21:23:18 · answer #2 · answered by Meda M 2 · 0⤊ 0⤋